alt Hacker NewsThe dollars you pay into social security today go to a recipient tomorrow. They are not invested in some pension fund.
That, and people who are old enough to collect social security are rich.
Combine those two facts.
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be very interesting to see if Post Trump, something like Australia's Superannuation gets proposed.
> That, and people who are old enough to collect social security are rich.
You claim that as a fact. Seriously? I can’t tell if you’re joking, obviously there are many poor old people.
What they do that young people tend not to do is vote. Young people go on social media and tell you to burn down a Wal-mart instead of voting in a rigged system… then they don’t burn down a Wal-mart and they don’t vote.
See I can talk in unfounded generalities too.
In the Australian system, your employer has to pay 12% of your pay into a pension ("superannuation") fund of your choice. Taxpayers still pay for pensions for those whose individual pension accounts have run out – but, in coming decades, that taxpayer expenditure is projected to shrink. [0]
Maybe the US should look at copying it? Well, Trump has expressed interest in doing so. [1] But, Australia has had something like this since the 1990s, so even if the US adopted the Australian model tomorrow, it would take a few decades for it to really make an impact.
[0] https://www.thesenior.com.au/story/9346972/age-pension-spend...
[1] https://www.ncpers.org/blog/what-trumps-interest-in-australi...